tv Lou Dobbs Tonight FOX Business March 12, 2013 10:00pm-11:00pm EDT
helping you save, even if it's not with us -- now,hat's progressive! call or click today. no mas pantalones! gerri: all right. attorney-general eric holder was talking about this earlier, admitting to the senate that some banks cannot be prosecuted. any inkling of an investigation says the market's crash in. do you agree that banks have a get out of jail free cards? here is with some of your posting of my facook page. of course they do. as long as you have a few million to pay in fines kamal is hunky dory. he didn't see anybody from the big bks to cost the big crash and 08 go to jail, did you? we also asked the question on gerriwillis.com. 75 percent of you said yes they have affected out of jail free cards. 25 percent said no. we have some of your e-mails. people need to stop talking abt the government a notice some objt. we are people. my air force pension, my fixed
income will be lower because congress won't act because republicans and democrats can work together. the media should be criticizing the lack of action, not applauding it. very interesting. norm says this, watching this administration reminds me of that old tv show, hogan's heroes. colonel klink is obama while all the cabinet secretaries act like surgeons shultz. i know nothing. here is rave from virginia. people do with a government can never do. thank you. love hearing from you. send me an-mail. finally, listen to this one. look at this. talk about of whole -in-1. the story of the sinkhole. continuing on an illinois golf course where the ground opened up under the 14th fairway. oh, my gosh. 18 feet deep and 10 feet wide. it swallowed a golfer from missouri. no kidding. look at that fellow. he was brought to safety with a rope and only suffered a difficult -- dislocated shoulder
not sure he would return t the courts with tt kind of hazard. cannot blame him. that is my "2 cents more." that's it for our shohohohohoho. thank you for joining us. have a good night. ♪ lou: good evening, everybody. senate democrats preparing to unveil their first budget proposal in almost four years. and tax hikes are at the center of their plans once again. senate budget committee chair patty murray proposing a budget that calls for a trillion dollars in new taxes. according to the congressional budget office, it still won't balance the budget, even decades down the road. democrats argue that this budget cuts almost 2 trillion from deficits over ten years. and they asked rich to pay their fair share. wih the white house insisting to the press that the american people have given them a mandate to take this approach. >> we need to ask the wealthy to
contribute to deficit reduction, and that is a position that the public widely supports. i will wait for the budget to be putorward in senator murray to do that. we expected to be balanced, to have the principal balance inherent in its proposals. it is not -- in that don't expect it will be -- an agreement on every item of the president's proposal, but it will be consistent with the president's balanced approach. lou: the latest poll however contradicts jay carney claims of wide public support. the president's job approval rating seek -- sinking to a 45%. the president's lowest rating in the polls since november of 2011. meanwhile, republicans blasting president obama for not producing his own budget proposal before the senate and the house present there's. senate minority leaderitch mcconnell seizing the opportunity to point out that this year wil be the first time
in 92 years that the president's budgets submissio does not begin the process. >> given the fact that we are going into the budget week with bothhe democrats and republicans, basically laying out their budget will be on the floor of the house and senate next week, it is neworthy to point out this is the first time in 90 years that the president's budget will actually come up after both the house and senate have voted. i hope that is not reflection of a llck of seriousness, but it is beyond party. lou: house budget committee chairman paul ryan wrote of "wall street journal" op-ed today, laying out the republican 2014 budget plan. the right approacslices more than four and a half trillion dollars in spending and balance the budget within a decade and cuts tax rates while doing so. and it eliminates obamacare
saving almost $2 trillion. that is not unlikely event. about as unlikely, in fact, as the democrats $1 trillion in new taxes. republicans and democrats obviously still as far apart as ever on the issues of spending and taxes. the president's budget proposal is still a mystery among but as press secretary today giving as something of an idea of just when that well overdue budget might finally be delivered by the white house. right now the president is focusing on meeting with democrats and repubcans on capitol hill. he has a lot to sell. fox news chief white house correspondent ed henry with our report. >> reporter: on the day republicans put their budget on the table, president obama arrived on capitol hill for the start of three days of schmoozing. a charm, but without a budget of is on t cell. >> up in the attack the ryan budget when you are standing here without an obama budget? >> well, i appreciate the question.
the president will be putting forward a budget in the next several weeks, probably the week of april 8 that would expt. >> that was news because the white house has repeatedly refused to say when the president will release his budget which, by law, was due the first monday in a february. then they promised march. now what is next month. >> it appears the president is happy to drop the bomb on the congressional budget process instead by releasing a budget plan after after the housend senate to have already acted. presumably this is so he can campaign against republicans if the process fails as he no doubt hopes. >> reporter: jay carney insists that on the one-page plan on the white house website the president has more detail about changes to major programs like medicare and social security. >> have elected the ryan but the? can you find a single item, a single loophole closed? $5 trillion. $5 trillion. that's a lot of money.
>> not one. >> reporter: is the president went behind closed doors today their release to the budget plan and medicare and medicaid are left alone, raising questions about whether the president will be able to give his fellow democrats to support the entitlement reform he is pledged with house leader nancy pelosi suggesting that she does not want to touch entitlements. >> of the point is to take trophies, that does nottsave money. it is a solution. >> tomorrow the president meets with house republicans. questions of whether the averages for show after an unnamed white house official told national journal this is a joke. we are wasting the president's time and ours. i hopehe wall, in the media, are happy because we are doing it for you. >> i have no ide who said that, but i can tell you that opinion has never been voiced in my presence or the president's presence. >> senator tom harkin said his democrat colleagues to the president behind closed doors to
be careful about a grand bargain that blacks away as social security and medicare. officials herensist that democrats on the hill are ready to make the tough choices on entitlements. u: thank you. ed henry, fox news chief white house correspondent. another sign of potential progress in the senate this time spped in its tracks. the effort, the bipartisan $9,804,000,000,000 spending bill to get the government through this fiscal year negotiated by appropriations chairman, senator barbara mikulski and ranking member senator richard shelby is noweing blocked and blocked by two republican senators, senators john mccain and tom colbert. those senators insist they have not had time to read the 500 pages. here to discuss what lies ahead in this -- what is shaping of to be above the budget.
fred barnes. first year of assessment is to two republican senators blocking will look like a piece of legislation that was wl on his way to making it through. >> it will make it through. they have until march 27 to is the money is not approved and signed by the president. the government would have test cs for while. it will happen. asking for 72 hours. at think this was not really that much of a flap given that harry reid got all whipped up about it. this is a guy who is not presented a budget in the last four years until today when they finally did. you were saying something earlier. remember, about the president coming in with his budget later. it used to be cliche. the president proposes and congress disposes. i guess that's not the case anymore. now it congress that proposes and the president of los.
lou: the president is certainly dawdling, and not setting a very good tone for wall street and for investors who are interested in what is happeni to fiscal policy in this country. why is he being your judgment ll be the effect of this process in sub much like the last one? >> obviously it is sething that the financial markets are not going to take kindly to. we could see someownward pressure put on equity prices. perhaps that is tolerable. you know, eventually something has to be done. unfortunately the president is discovering that there is a great deal of resistance to his emphasis on taxes and taxes alone as the primary means of balancing the budget. lou: thisusiness, fred, of carney today inventing the idea of white support for a trillion
dollars in new taxes, my god, where did they keep coming up with the stuff? i mean, at what point does the national media say, you know, there is a reality here. we would appreciate if you would at least conform to it in some fashion in your statements. >> i would say don't hold your breath for the media to be jumping on president obama. it's not just this 1 trillion in new taxes. we just cut 600 billion in new taxes from the fiscal cliff. then there are all those taxes and obamacare which are going to go into effect that republicans say over ten years we have another trillion dollars. i don't know how will a robust economy can be created out of this. i mean, if these tax increases which i agree, 1 trillion democrats are proposing and what happened. if it were that will be crushing to the economy. >> with all these tax increases in the pipeline to howland the world to we realize that dream a
half percent average annual real gdp growth, the cbo is predicting for the five years. we have to get this growth if we are going to be on track to move toward a balanced budget. lou: the ryan budget does that in the course of n years, but it makes a huge assumption, as just under 2 trillion that would be derived from the elimination of obamacare. that does nothing, -- does not as i said at the outset seem likely. >> not feasible today, but once obamacare goes into effect it could be that those the observable as well a the possible rationing of health care could create such an outcry that this program would be watered down substantially. lou: do you agree? >> exactly. i think he is right. i don't think it wille overturned. even though it is going to be difficult to implement, now we
already know, there is a 15 page thing that peoe have to fill out just to get started in registering for obamacare. it can be watered down. it better work or it isn't going to be around totally, that's for sure. he not point to good. >> that much of it. lou: you were about to say very quickly. >> we don't want to overlook the fact that the problems facing the budget and the major uncertainty facing the u.s. economy's over the next two years, growing by more than 3% annually. we are going to be depending upon the working age population that is going to be growing. one-half of 1% annually to fund this unprecedented retirement of huge numbers of baby boomers. lou: we will conclude thi gentlemen, with let me bring everyone up today on the most recentomment by the president to abc news in which he said, and i will paraphrase, he is not interest in chasing a balanced
budget. fred barnes, john lonski, thank you both for being here. much more on the budget battle on capitol hill shipping of quickly. with the president fits in this debate next. ♪ lou: the budget battle is on. we will break it all down in the "chalk talk" tonight. you think the president is being charming? we will find out what one congressman thinks and whether arm is enough. arm is enough. ♪ this is $100,000.
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white house press secretary says is now going to be out the week of april 80, well after the democratic and republican plans. he said in response to a question, are you going to come forward with the budget reaches balance? he says, no. my goal is not to chase a balanced budget just for the sake of balance. my goal is how we build the economy and put people back to work. commenting to abc news. president obama is right now trying to smile a lot, shake a lot of hands. tomorrow he meets with the house gop. the chairman of the national republican committee will be among those meeting with the president tomorrow. he will join us here in just a moment. first among let's take a look at what happened on wl street. the dow jones industrials, for a eighth day in a row to my gaining up to a new all-time
high for a sixth straight session. fifteen years since the dow -ones industrials put together a string of six record closing highs. last done back in february of 1998. the dow edging up today two and three-quarters, but it still counts becau it is a new high. 14450. the s&p 500 fell three and three-quarters. the index now within 13 points of its all-time high set back on october 9th 2007. the nasdaq down ten and a half points today. pendragon the overall market. volume on the big board. shares of apple and google holding the tech sector back. apple, the weakest down 2% on the date. merck up more than 3% on news about its cholesterol drug. goldman raising the commodity sector to overweight today. gold up 1370, settling at 1591. crude-oil up $0.48 per barrel
settling in 9254. in the bond market the ten year treasury slipping. overall a slight pullback in the market today. the wilshire 5,000 moves in 50 billion. the beginning of this month the market is up 425 billion. particularly with the savants and bruce. corrections slauson large percentage retracement. those careers and savant's. we will see. a former ceo of aig more than doubling down in hisawsuit against the federal government. the class action lawsuit that he is leading seeking $65 billion from the government first unconstitutional.
unnecessary. a treasury official tells fox business, they still believe the lawsuit is without merit, and we will see. we will see what happens when president obama tomorrow meets with house republicans. that will be their first meeting since june of 2011 when ere were also talking budgets. joining is now to talk about tomorrows meeting and what he expects, the budget battle that is now under way, joini us, congressman greg walden, new york and republican chairman of the congressional committee, energy and commerce committee, chairman of the communications and technology subcommittee. congressman, great have you with us. are you excited about tomorrow? >> you know, it is always interesting when the president comes to visit washington and certainly up to capitol hill, so we welcome him to hear what he has to say. lou: and what he has to say will be in the form of a budget. we have to wait until apparently the week of april 8. >> this is nearly unprecedented.
you have to go back to when warren harding was president. he should have had this. you're at least t months late. if he were the ceo of any major company wouldot be a ceo right now with these limits uses. lou: it would be interesting to see how his shareholders would be behaving. >> a little upset. yes. actually, voters i think are catching on. is job approval number going down. and to say that you are not even going to a chase a balanced budget, we need a balanced budget so that we can grow the economy and jobs to stop having this track with the deficit. lou: tomorrow in that meeting, the president is going to be talking obviously about -- i should not say obviously, i would presume that he would be talking about that trillion dollars in taxes which she seems to feel he has once bred support despite, for example, the poll you decided, as we reported, the broadcast, what are you guys going to expect in that
discussion? >> well, you know, we look forward to hearing what he has to say. we have no idea. breezily the idea was he was coming to talk but his trip to the middle east and israel, but apparently that has marked unchanged. so we are open to hear what he has to say, but if you're not going to put forward a budget that actually balances, which paul ryan and the republican house budget by -- balances in ten years, never balances, even with the trillion dollars in tax increases. that is not balance. that is irresponsible. and i will see what he has to say, but this charm offensive. come on. charm is something you put on a bracelet. you cannot campaign nonstop. i'm jus saying. you canno campaign nonstop since the election against republicans the first phone call of the platform election night to sell what the white of republicans in the house so i can govern unfettered and then come to capitol hill and say can we all belong then that night go to the organizing group his former
campaign team and say, hey, i'm with you to take up the house, the republicans. you know, come on. we have big issues in this country that we need to address. lou: you know, as you say, i love that expression, charm is what you put on a bracelet. you guys are sometimes pretty charming. i have to say. and i think you do that kind of consciously much as he is doing right now. a little charm won't hurt, but the fact is, you're suggesting there are some tough choices to be made. on of the tou choices is where you come up with $2 trillion under the ryan plan if for some reason you don't convincehe president to just drop the signature lot, the obamacare lot. >> and that is in the paul ryan budget to repeal obamacare because we feel strongly that it is not going to work. we will be enormously expensive, cost jobs, the lay access to heelth care, and with the panel of 15 unelected bureaucrats will
decide who gets covered in medicare. lou: i stipulate. obamacare is a bad idea. i just don't seeow as a practical political matter you're going to get the senate and the president to go along with fox business that. >> but we don't want to be democrat like and say we're just going to accept the fact. lou: i don't want you to be that even. i do want you to be practical and realistic about what you can do. you put just under 2 trillion out of the ryan plant. you still have over 3 trillion, which is about twice as much as the president's, certainly as the senate, the democratic plan, and is likely the pdent's plan. >> remember, we, as republicans, actually believe in a smaller federal government that balances the budget. we put that forward in each of the last two paul ryan budgets. this is the third. as you have said, this is the first time the senate has put forward a budget. we have never seen this circumstance where the president wait until april.
lou: you know what, congrsman, the president may be in shock that the president -- the senate is putting forth a budget and it will take until april to recover . >> whip van winkle woke up. it has been all these years. they had to blow the dust off of the manuals on how to put together a budget over the senate. remember, the continuing resolutionhat you talked about earlier, we cut a billion dollars out of obamacare, denied the irs the money to hire new agents tomplement from their perspective, so we are chipping away at this every chance we get because we think their is a better way to reform health care d make sure americans get that opportunity going forward. again, we balance the budget into and years. a serious alternative would be their version of balanced budget. we don't see that from the senate. democrats, house democrats to more the president. the latest from their usin is that there are -- the budget balance is in principle. do you know what that means? it gets better.
it means that they don't count the interest payments. that is like saying to a family to my family budget balances. i just don't count my credit card interest payment, home mortgage interest payments. can you believe? of course you can't receive all the time. lou: every night, congressman. every night. >> of a trillion dollar coin would solve the problem. on not making this stuff up. lou: congressman, were way over time. you are making me laugh. i appreciate it. thank you so much, congressman. all the best. a great meeting tomorrow. up next, dueling budget proposals unveiled in the house and senate in the chalk talk next. i show you just how far apart an interesting these two proposals are. in the new fiscal year, the national football league taking off, well, just hours ago. casualties already mounting. you know, this is our way upper tending football is back in season here. season here. we're coming right bac all stations come over to mission a for a final .
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♪ lou: well, if you have been with us throughout the broadcast, this is exciting. the budget battles underway in washington. believe it or not, it has been for years as the democrats last introduced a budget. back on april 29 to 2009. this year not only are the democrats and the senate producing a budget, but so is th president. he is a few months late. actually define law, but who cares. tonight we want to give you a sense of what they're proposing, the democrats in these republicans. we begin with the house republicans. they like to name their budgets after congressman. the ryan budget. by the way, this is thehird ryan budget produced by the republicans in the past three years, unlike the previous budget proposals, this ryan budget balances the budget in ten years. ten years. and i have to commend the congressman and the republicans
for doing so. it als achieves over four and a half trillion dollars in deficit reduction over the next decade. there is one little hitch. almost 2 trillion of that is obamacare. the repeal of obamacare necessary to get to that number, but still of very healthy number . and we all knothe house repuicans cannot do that by themselves, so let's take a look at the senate democratic budget which does not even achieved half of that deficit reduction. only 185 trillion in deficit reduction. it is not even -- the president likes to use the expression balanced. taxes, spending cuts, the senate democrats have a little qualifier.
$1 trillion in new taxes. so i can feel some excitement starting to wane here, but it's probably not going to help. the senate democratic budget does not balance the matter what. in terms of deficits, a never does get there. zero. absolutely zero deficit reduction perpetual internet deficits. let's see what else they offer because there is until n reform. the ryan budget starting i 2021, anyone born in 1959 or later is offered a choice between traditional medicare and a private plan. that is 2024. the senate democratic budget preserves medicare and medicaid programs in its current form. absolutely no cutback, but that is more than just a problem because if nothing is done to make medicare more affordable the program will explode. it will double its current size within a decade. look at ts number.
and going to put it right here. $592 billion payout this year for medicare. within two years that goes to just over $1 trillion. that is why these parties have no choice in the next few years. i would say at the outside, three years because this point, if the democratic proposal, for example, were to be put forward, it is not a budget proposal. in point of fact, if it were put together into law it would be fiscal suicide. you heard people say, america is becoming a third world nation. peter henry argues in his new book that we would do well to watch those their world countries. the border patrol still tells us how many illegal immigrants they captured.
two years ago they quit telling us how many got away. why is that? sex, murder, alleged abuse, the man who successfully defended casey anthony joins. we will have their take on the trial providing much of america. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her likes 50% more cash, but i have an idea. do you want a princess dress? yes. cupcakes? yes. do you want an etch-a-sketch? yes! do you want 50% more cash? no. you got talent. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? i usually say that. ah. 4g, huh? verizon 4g lte. 700 megahertz spectrum, end-to-end, pure lte build. the most consistent speeds indoors or out. an obviously, astonishing throughput.
♪ lou: scheduling in early august trial for the man charged in the overall peter shooting, also entering a not guilty plea on behalf of him after his defense team said he was not ready to enter one. homes can still change his plea to not guilty by reason of insanity. prosecutors have asked the judge to keep the case moving forward and did so. if he eventually does plead insanity, he could also be given a truth serum as part of his evaluation, his defense attorneys have filed documents opposing the technique. now to a story that no one wants to talk about, what is happening in the murder capital of
chicago. a 6-month old baby girl was killed, she died this morning after being shot five times yesterday. her father was changing her diaper bese his minivan. officials say the gunman was apparently targeting a father, a known gang mber who was also shot and remains in critical condition tonight. incredibly, this is the second shooting that the family has endured. the girl's mother was also shot several months ago while she was pregna. jody will be back on the witness stand for an 18th day in the phoenix arizona capital murder case of 41 year-old accused of murdering her ex-boyfriend, travis alex -- travis alexander, a stabbing him, slitting his throat, shooting in the head. last winter's rest more than two dozen questions including one question, after all the lies he told them why should we believe you now.
and now jurors have submitted even more questions. joining us, fox news legal analyst, a criminal defense attorney who successfully defended casey anthony on a florida death penalty case. thank you both for being here. i want to start with an idea that the defense has put her on the witness stand. >> they had to almost because there only to people there. only one surviving. you have to put her on the stand to keep away from the death penalty. she already admitted t to having done it, so they have to put some teary forward, whether it is battered woman or self-defense. i don't think any of these will fly, and especially when you look at the juror questions to why should we believe you know preachified not once, not twice, but now a third time on the stand about a these different stories about what happened. i don't think she will prevail. lou: do you agree? >> i do. i agree completely. i think that the way you have to look at this is this is first and foremost a death penalty case.
so, number one is to save her life. i tnk what they did by putting her on the stand is really an attempt to humanize our. the fact she spent so long on the stand, i think, will help the defense in that gold alone as it relates to the guilt phase, that remains to beeen. ♪ lou: this defendant's, she is saying that she had lapses of memory. >> i was just going to get to that. so unbelievable. and she takes the stand. remember. all these other things. our relationship. apparently hee here. is is where she sank. pedophile. no evidence of that all. all of these things beach remembers everything up until the int where she slid struck 27 times and should some in the head. then she is able to remember enough to get rid of the gun to make the story. so they have experts lined up, defense experts lined up to be that will be a tough one to get over. lou: where do you think the cases said it?
jurors, this is peculiar to me at least. jurors have right to this much cross-examination. where does it end? >> well, i think it's going to up continue. obvioussy this is being played out for the jury. the whole trial is specifically for the jury. so these are the peopl who really need the most attention. i believe it is going to continue until they are done. do think that the judge, after a few more days, will probably try and narrow this a bit. it is going to get very tricky because we might have some appellate issues that would come up as a result of that. next we're going to see all slew of mental health experts after this. >> only a few states allow this, by the way. for your four, so it is not that common. he is exactly rig. the judge cuts it off prematurely, that if she is convicted that is a big issue on appeal. lou: i wan to turn, if i may,
to the colorado theater massacre and james homes. the judge ruling that the james holmes could get truth serum. what is your reaction to that? does that seem to comport to what you would expect? >> well, this has been going on for many, many years. this is nothing new. however, it is going to be put on by prosecution experts, and there not going to say anything positive for the defense anyway. what it basically results in is, if you're going to plead not guilty by reason of insanity, not only will the prosecution allow -- have the opportunity to have their experts interview him, but they will also be able to do this type of interview using this sodium pentothal truth serum. >> and a polygraph, as you know, as well. the polygraph.
that usually does not come in in the courtroom, but it could in this case because your talking about an insanity defense. all those things are the prosecution disposal, but my mantra here tonight is the prosecution has to be careful because if there is an issue o appeal, the truth serum, taking away some kind of constitutional right. now, it's true they have had this to serve for a long time, but you never know when the case might lose on appeal. lou: i wanted thank you both periods are. go ahead. >> no, i was going to say, you're right. if he passes the polygraph and the truth serum test, you'll never hear from those witnesses because unless the defense decides to put them on. lou: thank you for being with us. we appreciated. >> thank you for having me. lou: joining the discussion. go to a loudobbs.com and get the list are facebook page. e-mail me or tweet me. up next, a change in the way homeland security gathers statistics. by the way, one of the
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♪ lou: defense secretary jack a bill reversing his position today on a controversial new medal for drone and cyber warfare. the distinguished warfare metal, as it is called, was approved last month. it would have rired and the purple heart and bronze stars. critics call that an insult to combat veterans. initially defending the award and the pentagon today announcing its halted production of the metal. senate minority leader mitch mcconnell of this tweeting a shocking photo of a nearly 20,000 pages of obamacare regulation. i repeat, 20,000 pages. and if you stack every page of the regulation on top of one another, this is what it looks like in comparison to the
original obamacare log it rests comfortably on the chair. senator john barrasso of wyoming joined in. is proving a stack is more than 7 feet tall, but if you think that is that nightmare, try applying for benefits under obamacare. according to the associated press, the process will be as difficult as doing your taxes. the government's draft application, which is now on the internet is 15 pages long for a 3-person family. after you finish that, well, you still have to choose a plan. this is just where the fun begins. common security secretary janet napolitano testified to congress last month that our border has verrbeen stronger. the president's secretaries of border patrol apprehensions-50% over the last five years. but it turns out homeland security is only telling part of the story. and only measuring part of the
problem. fox news william marchioness reports border prol agents are no longer counting the illegal immigrants who get away. only the ones they catch. critics say that without those figures there is no way to say that the border is safe for secure. i think they have a point. don't you? few people can say they have met with the president of the united states. only one person can say that he piloted his own 747 jetliner to get to the meeting. that person is the sultan of brunei. the 66-year-old did just that before sitting down for a talk with the president in the oval office today. the sultan is of course known for his vast wealth and that includes a collection of some 7,000 high-performance automobiles valued at more than $5 billion. among his collection 604 rolls-royces. that's right. 604. 574 mercedes, four under and 52
forest and a 380 bentleys, 209 bmws, 179 jaguars, 21 in bikinis, 11 aston martins, and -- you get the picture. payday in the nfl as free agency begins, although of flat salary cap has some team scrambling to restructure there contracts and to cut players ahead of next month's college draft. the nfl setting the 2013 gap at 123 million. that is where it was back in 2009 when the last collective bargaining agreement this -- expired reprenting only had $2 million increase from a year ago. wide receivers of the super bowl champion baltimore ravens, the minnesot vikings trading to san francisco and seattle respectively. stars like victor cruz of the giants and there'll reavis of the jets could be on the move for the right price. and the list of high-ice players already cat is growing by the minute. up next, slow-growth, high
unemployment, not revenue but argues we should look to the third world to turn around our firrt world economy. we find out what he means next. ♪ today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it uto 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.
♪ lou: my next guest says discipline is the key to economic success in the data states and europe should be taking cues from the third world countries to which they are often preaching. joining us now, the dean of new york university, stern school of business, peter henry, also the author of this new book, a turnaround, there were lessons for first world growth. great to have you with us. >> right to be with you. lou: let's turn first to the idea, more and more we hear people say, the united states becoming a third world countrr. you hear it.
we have high unemployment. very little growth. what should we be doing too, as you put it, turn this thing around? >> i think the key lesson, as you pointed out, these countries turn themselves around using discipline. so by using discipline and it became known as emerging markets committing of the situation where they are in high-debt, as low-growth and a lack of direction. lou: did you just describe the united states? >> in many ways that's exactly right. the united states and western europe but a lot like these countries 30 years ago. as you said, we preach to them, taught them how to turn themselves around, the discipline. what we need now erotically is our oww lesson. lou: use a discipline. i think this policy in that thing, my god, there is nothing approaching a fiscal discipline in this country except by the republicans, sufficient political power in this government to influence the have come. your thoughts? >> here is the key thing.
discipline is not mean what people think it means. discipline does not mean austerity. disciplineoes not mean runaway stimulus either. so in the same way which been cheating is not good for you, this one is a long-term focus. and so my favorite example of what fiscal discipline really means is a simple story. go back to the ant and the grasshopper. when times are fleshy saves so that he has money when times a link. a great example of this. compare chile to the united states. in 2000 with a record budget surplus, $236 billion in 2001. what we do with it? we actually gave that surplus back so that when we needed the money we did not have it. the big surplus in 2008, and takes great pleasure from the population to spend that. this is money for rainy day. when the crisis in 2009 they're able to cut taxes. lou: the beneficiary of a great
free trade relationship with its powerful north american country known as the united states as well. we don't have that. we do have the advantage of having intelligent people running a government. what in the world are these fools doing? because this is nothing more than abject, we are pursuing is fiscal policy in this country right now. thirty seconds for you to give me the answer to all of our travails. >> okay. we need less austerity, more reform. i think we are one pce of fiscal legislation, a combination of spending cuts and tax increases away from clarity. lou: disease a tax increase is? >> spending cuts plus tax increases. [laughter] lou: we are out of time. we will bring you back with more than 302nd. >> of afford to it. lou: thanks so much.